SunPower Invests $20 Million in Tendril to Bring Smart Energy Solutions to Market

12/17/2014

SunPower Invests $20 Million in Tendril to Bring Smart Energy Solutions to Market

Growth Capital and Commercial Agreement to Further Personalize Energy Services

SunPower Corp. (NASDAQ: SPWR) and Tendril, Inc. today announced that SunPower has invested $20 million of growth capital into Tendril and will license its Energy Services Management (ESM) Platform software. Enhanced by SunPower's vast amount of solar related data, the ESM Platform will power the development of new Smart Energy applications for a broader set of consumers and utilities.

Combining the unique functionality of the Tendril ESM Platform with SunPower's knowledge of the solar industry will ensure all energy providers can effectively meet consumer demand for personalized energy services. This approach includes enhancing insight, choice and control of energy for customers, as well as improving the marketing of solar solutions through direct to consumer and utility channels.

"Consumers want even more flexibility to tailor their energy supply and usage to fit their lifestyles, beliefs and financial goals," said Tom Werner, SunPower president and CEO. "We know that in order to deliver customized offers and choices to customers, we have to first understand individual consumer needs."

"We've spent the past decade developing the only flexible enterprise-class software platform that can deliver an accurate understanding of the energy consumer on an individual basis," said Adrian Tuck, Tendril CEO. "Our partnership with SunPower will extend that understanding to include solar, increase engagement and value to energy consumers, and allow SunPower and our utility partners to better serve their customer base with even more personalized programs and services."